Published On: Wed, Apr 17th, 2019

U.S. consumer watchdog to propose clarifying debt-collection rule ‘in coming weeks’: CFPB Director

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Kathy Kraninger speaks to an audience on her first set of regulatory priorities as director of the Consumer Financial Protection Bureau in Washington
Kathy Kraninger speaks to an audience on her first set of regulatory priorities as director of the Consumer Financial Protection Bureau in Washington, U.S., April 17, 2019. REUTERS/Katanga Johnson

April 17, 2019

WASHINGTON (Reuters) – The U.S. Consumer Financial Protection Bureau will propose clarifying its debt-collection rule “in coming weeks,” the director of the agency said on Wednesday.

Kathy Kraninger, in her first major address as director of the CFPB, said she has directed her staff to establish clarity in the number of calls consumers may receive from debt-collectors. She added that the proposal would also encourage market participants to use “other modern technology” in their approach to collect outstanding payments.

Debt collection ranks among the highest volume of issues on the agency’s consumer complaints portal.

(Reporting by Katanga Johnson)



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